Q3 2025: Solid Group revenue

• Group: 

  Revenue of €472 million (+1%^[1]) supported by higher revenue at Eurotunnel and Europorte, against a backdrop of normalisation of Eleclink's contribution 

• Eurotunnel: Revenue up 3% to €364 million, due to growth in Shuttle activity 

• Eleclink: Revenue down 13% to €66 million, reflecting the normalisation of electricity markets 

• Europorte: Revenue up 5% to €42 million

• Target EBITDA^[2] for 2025 of between €780 million and €830 million^[3] confirmed

Yann Leriche, Chief Executive Officer, commented: "The 3^rd quarter performance reflects the solid momentum of the Group's core activities. Eurotunnel achieved record revenue, supported by the attractiveness of LeShuttle service and growth in High-Speed traffic. During the quarter, we successfully completed preparation for the new European Union Entry/Exit System (EES) border controls. The integration of digital and artificial intelligence in developing a smooth and efficient EES customer journey further enhances the attractiveness of our offering."

Footnotes

^[1] All comparisons with revenue for the first nine months of 2024 are made at the average exchange rate for the first nine months of 2025 of £1 = €1.172. ↑

^[2] In this release, "EBITDA" is equivalent to "current EBITDA" as defined in note D.4 of the 2024 consolidated financial statements: it is calculated by adding back depreciation charges to the trading profit. ↑

^[3] Target set in March 2025 based on the scope of consolidation at that date and an exchange rate of £1 = €1.184, assuming a constant regulatory and tax environment. ↑